Philadelphia, Pennsylvania--(Newsfile Corp. - November 9, 2024) - Grabar Law Office is investigating whether certain officers and directors of Outset Medical, Inc. (NASDAQ: OM) breached the fiduciary duties they owed to the company. Visit https://grabarlaw.com/the-latest/outsetmedical-shareholder-investigation/ or contact Joshua Grabar at jgrabar@grabarlaw.com to learn more.
Why?
An underlying federal securities fraud class action complaint alleges that, Outset Medical, through certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the underlying complaint alleges Defendants failed to disclose to investors: (1) the Tablo products were marketed for continuous renal replacement therapy, which is not one of the indications approved by the FDA; (2) that, as a result, Outset Medical was reasonably likely to submit an additional 510(k) application for the Tablo products; (3) that there was a substantial risk that the Company would cease sales of the Tablo products pending FDA approval of additional indications; (4) that Outset Medical lacked the sales team and process to execute on the ramp of Tablo sales; (5) that, as a result of the foregoing, the Outset Medical's revenue growth would be adversely impacted; and (6) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis when made.
What You Can Do
Current Outset Medical shareholders who have continuously held Outset Medical shares since prior to August 1, 2022, can seek corporate reforms, the return of funds back to company coffers, and a court approved incentive award at no cost to them.
If you would like to learn more about this matter at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/outsetmedical-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085.
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